Use revenue management technique to help MEAirline to

Use revenue management technique to help ME Airline to deciding which price set option is better for its flight number 331 from Beruit to Washingtion DC

 

One Price Set for flight seat pricing

ME  Flight number 331 ( from Beruit to DC) has

400

Seats in Economy Class

Has one price per seat

(customer accept to pay $1000 per seat)

 $1,000

per seat

the variable cost of seat being occupied is   (inculde meal,…etc)

 $50

per seat (person)

Expecting number of seats to be sold

( with $1000 price)

300

seat per flight

 

 

Three Price Sets for flight seat pricing

1st price per seat

( customer will book the flight 3 month before departure day)

 $600

 per seat

Expecting number of seats to be sold

( with $600 price)

150

seats

2nd price per seat

( customer book the flight between 1 to 3 months before departure day

 $800

per seat

Expecting number of seats to be sold

( with $800 price)

150

seats

3rd price per seat

( customer book the flight less than 1  month before departure day)

$1200

per seat

 Expecting number of seats to be sold

( with $1200 price)

100

seats

 

Answer

Net Sales for one price set

 

 

Net Sales for three price sets

 

 

Explaining the methods is highly appreciated

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